Elevate Campuses IPO To Open On 23 September: Issue Size, Lot Size And More
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Elevate Campuses IPO price band has been set at ₹343-₹362, targeting ₹2,100 crore. The issue opens on 23 September. Read more for key details.
Elevate Campuses has fixed the price band for its ₹2,100 crore initial public offering (IPO) at ₹343-₹362 per share, valuing the student accommodation operator at about ₹6,100 crore at the upper end. The Hillhouse Capital-backed company will open the issue for subscription on 23 September and close it on 25 September. The anchor book for institutional investors will open on 22 September.
What Are The Key Details Of The Elevate Campuses IPO?
The Elevate Campuses IPO will consist entirely of a fresh issue, with no offer-for-sale component. Investors can bid for a minimum of 41 shares and in multiples of 41 thereafter. At the upper price band, a retail investor would need ₹14,842 for the minimum application.
Qualified institutional buyers will be allocated up to 75% of the issue, while 15% will be reserved for non-institutional investors and the remaining 10% for retail investors.
Hillhouse Investment, through Genius Bidco Holdings and Genius Rajkot Investment Holdings, is the promoter of Elevate Campuses.
How Will Elevate Campuses Use The IPO Money?
The company plans to use ₹1,100 crore of the net proceeds to acquire K-12 entities and campuses from promoter-group subsidiaries. Another ₹750 crore will go towards reducing debt. The remaining funds will be used for unidentified acquisitions, other strategic initiatives, and general corporate purposes.
As of March 2026, Elevate Campuses had 20,368 owned student accommodation beds across seven campuses in six Indian cities. Its managed portfolio stood at 55,487 beds across 14 campuses. The company operates its student accommodation business under the Good Host Spaces and ScholarZ brands.
It also owns two K-12 assets in Dubai. The planned acquisitions would add 16 K-12 entities and campuses in India.
How Did The Company Perform Financially?
Elevate Campuses reported a consolidated profit of ₹173.8 crore in FY26, up around 250% from ₹49.7 crore. Revenue from operations rose 53.8% to ₹568.6 crore from ₹369.8 crore during the same period.
The company’s owned-bed occupancy declined from 99.92% in FY24 to 89.37% in FY26. Its revenue is also concentrated among a few higher education institutions, with the top three accounting for 61.46% of FY26 revenue.
JM Financial, IIFL Capital Services and Morgan Stanley India Company are the merchant bankers for the issue. The shares are expected to be listed on 30 September.
Also Read - Veegaland Developers IPO Listing: Shares List At A Premium Of 10% On NSE
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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